You must open the account while aged 18 to 39
A Lifetime ISA can be opened while you are aged 18 to 39, and contributions can continue until age 50. That makes the opening date part of the planning decision, not just the saving rate.
Lifetime ISA
Lifetime ISA calculator for LISA bonuses and first-home savings
Estimate the 25% Lifetime ISA bonus, then check whether the account age, property price cap and mortgage-purchase rules still fit the first home you are planning.
LISA bonus estimate12-month rule included£450,000 cap in view
Annual Allowance
Current Lifetime ISA contribution limit: £4,000 per year
Government Bonus
25% on what you pay in, up to £1,000 a year
First-Home Gate
12 months open, £450,000 property cap and purchase with a mortgage
On This Page
Planner
Project the bonus-backed savings timeline without hiding the eligibility gates
See both sides of the decision at once: how quickly the account may grow and whether the first-home withdrawal route will still be available when you want to buy.
Lifetime ISA Savings Plan
£
months
The first-home route only opens after 12 months.
£
The planner caps new Lifetime ISA money at the current £4,000 annual allowance.
£
£
Needed because the current first-home cap is £450,000.
%
Lifetime ISA Projection
Current Balance
£0Future Contributions
£21,645Future Bonus
£5,411Interest Earned
£3,199Time To Target
5 years 5 monthsEarliest Eligible Home Use
5 years 5 monthsProjected LISA Value
£30,256| Year | Future Contributions | Future Bonus | Projected Value |
|---|---|---|---|
| Year 1 | £3,996 | £999 | £5,105 |
| Year 2 | £7,992 | £1,998 | £10,417 |
| Year 3 | £11,988 | £2,997 | £15,946 |
| Year 4 | £15,984 | £3,996 | £21,700 |
| Year 5 | £19,980 | £4,995 | £27,689 |
| Year 6 | £21,645 | £5,411 | £30,256 |
Key Rules
The Lifetime ISA rules that matter most for a home purchase
These are the checks that decide whether the bonus can actually be used on the purchase you have in mind.
The home-buying route needs a 12-month holding period
The account must have been open for at least 12 months before a first-home withdrawal can be made. That is why the planner shows the later of the savings target date and the 12-month eligibility point.
The current property cap is £450,000
That cap applies to the property price, not to your share of the deposit. This is why the calculator asks for the expected property price instead of treating every savings target as equally usable.
The purchase must be with a mortgage
The first-home withdrawal route must be used to buy with a mortgage, so the planner is focused on mortgage-linked purchase planning rather than general house-buying savings.
Timing
Where a Lifetime ISA helps most and where it can slow a purchase
A Lifetime ISA can be powerful, but the timing only works when the savings plan, the account age and the property budget all line up.
It works well when the property stays inside the current cap
If the expected purchase price stays at £450,000 or below and the 12-month rule is already satisfied or can be satisfied in time, the bonus can materially accelerate the deposit plan.
It is weaker when the purchase date is too close
A buyer can reach the savings target before the 12-month rule is complete. In that situation, the account value may look ready before the purchase rules are.
It is not a second bonus on top of a Help to Buy ISA bonus
If you also hold a Help to Buy ISA, only one of the two bonuses can be used on the same purchase. The decision is therefore which account is more useful for the property and timing you expect.
Before You Buy
Checks to make before relying on the bonus
The savings balance alone does not tell you whether the Lifetime ISA route is ready to use. These checks usually matter most close to purchase.
The property cap still matters when you start making offers
A deposit plan can look strong and still fail the first-home withdrawal rules if the property price moves above £450,000. Keep the likely purchase range in view, not just the savings target.
The withdrawal charge takes more than the bonus back
If the money is withdrawn for a reason that does not qualify, the 25% charge leaves you with less than you paid in. That makes the account less flexible than an ordinary savings pot.
Only one ISA bonus can be used on the same purchase
If you already hold a Help to Buy ISA as well, the main question is which bonus is more useful for the planned purchase. Both bonuses cannot be used on the same transaction.
The withdrawal is handled through your conveyancer
The funds are not simply taken out like a normal transfer. The first-home withdrawal process is handled through the conveyancer or solicitor acting on the purchase.
Next Tools
Use the next planning tools once the Lifetime ISA route is clear
The Lifetime ISA is only one part of the first-home cash plan.
Deposit Calculator
Zoom back out to the wider deposit plan if you want to compare a LISA with regular savings or a gift top-up.
Stamp Duty Calculator
Add current SDLT to the purchase budget so the bonus is not confused with the full cash requirement.
Fees and Costs Calculator
Bring legal fees, surveys and moving costs into the same cash plan.
Lifetime ISA Guide
Read the guide if the real question is whether the 12-month rule, property cap or withdrawal charge changes the plan.
Frequently Asked Questions
How much can I pay into a Lifetime ISA each year?
The current annual Lifetime ISA contribution limit is £4,000 and the government bonus is 25% of what you pay in, up to £1,000 a year. Contributions can continue until age 50 if the account was opened while you were aged 18 to 39.
When can I use a Lifetime ISA for a first home?
For a first-home purchase, the account must have been open for at least 12 months, the property price must be £450,000 or less, the purchase must be with a mortgage, and the withdrawal is handled through a conveyancer or solicitor.
Does the 25% withdrawal charge only take back the bonus?
No. A 25% withdrawal charge leaves you with less than you paid in, so it removes more than just the government bonus.
Can two buyers use a Lifetime ISA on the same purchase?
Yes. Each eligible first-time buyer can use money from their own Lifetime ISA toward the same purchase.
Can I use both a Help to Buy ISA bonus and a Lifetime ISA bonus on the same purchase?
No. You can keep both accounts if you already hold them, but only one of the two bonuses can be used on the same home purchase.